Question
A Thai company has a duty to withhold and submit an employee's income tax to the Revenue Department on a monthly basis. Suppose your monthly
A Thai company has a duty to withhold and submit an employee's income tax to the Revenue Department on a monthly basis. Suppose your monthly salary is 45,000 Baht and the income tax rate is given in the table below. At the end of the year, your tax filing after deductions suggests that your tax payable is 30,000 Baht. How much tax return can you claim back from the government? Tax rates The current personal income tax rates are shown below. Net income (Baht) Tax rates 0-150,000 150,001 300,000 Exempt 5% 300,001-500,000 10% 500,001-750,000 15% 750,001 1,000,000 20% 1,000,001-2,000,000 25% 2,000,001-5,000,000 30% Over 5,000,000 35%
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